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Known Risks and Unknown Risk The risk is future uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. [PMBOK6] The risk is the effect of uncertainty on objectives, and an effect is a positive or negative deviation from what
Negative Risk (threat) and Positive Risk (opportunity) The risk is a future uncertain event which may have positive or negative impact on the Project. PMBOK 6 Risk like changes is unavoidable and integral part of project life. We don’t want to be caught off guard in the event of the
Master Schedule and Milestone Schedule The schedule includes at least the list of work activities, their durations, resources, and planned start and finish dates. PMBOK 6 Master Schedule A summary-level project schedule that identifies the major deliverables and work breakdown structure components and key schedule milestones. PMBOK 6 Master Schedule
The risk is future uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. [PMBOK6] The risk is the effect of uncertainty on objectives, and an effect is a positive or negative deviation from what is expected. [ISO31000] What are
Contract Closure and Administrative Closure Contract Closure Contract Closure is the process of accomplishing all tasks in the mentioned deliverables and on the initial recruiting of the contract. For the contract to be closed, the seller is required to complete each and every component of the deliverables. The products and
The risk is a future uncertain event which could have a positive or negative impact on the Project or one of its objective A project issue is a problem that is actively disrupting a project or putting its success in doubt I am sure with the above definitions you have
A deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables” PMBOK A Work Breakdown Structure (WBS) is a hierarchical structure of things that the project will make or outcomes that it will deliver” Association of Project
Before embarking on our journey to understand the mentioned terms, let’s understand Decomposition Decomposition as a means of breaking down scope into work package or work packages into smaller activities I understand that for many of us, the project manager it doesn’t make a lot of sense to have two
Project Team and Project Management Team let’s start our discussion with the understanding of who is Project Manager. They are organized, passionate and goal-oriented who understand what projects have in common, and their strategic role in how organizations succeed, learn and change. They work well under pressure and are comfortable with
